By Jonathan Mbiriyamveka
The Zimbabwe Tourism Authority (ZTA) has thrown its weight behind Seeff Developments Zimbabwe (SDZ) on the creation of a focused Hospitality and Tourism Property Fund-Seeff Developments Hospitality and Tourism (SDHT) Property Fund.
The SDHT Property Fund will invest in Hospitality and Tourism properties with a view to assisting the tourism industry and the Government of Zimbabwe to meet the objectives of the National Tourism Recovery and Growth Strategy and the general tourism development.
Tourism is an important sector of the economy and this initiative comes at a time the country is soliciting for investment into the sector to improve the tourism product base.
In a letter gleaned by Gemnation News, ZTA indicated it was ready to assist SDZ in its endeavours.
“ZTA will also support the realisation of this project including through promotion of the product to the market.
“In light of the foregoing, we would greatly appreciate your support and assistance in facilitating the realisation of this development. Meanwhile, SDZ is advised to follow all the due processes required for the implementation of the project,” reads the letter.
SDZ is venturing into the project in its capacity as an independent body corporate, whilst ZTA is supporting investment into the tourism sector without creating a principal-agency relationship between the two entities.
According to SDZ, the objective of the Scheme is to offer members of the public and institutional investors opportunities where they can acquire a participatory interest in the ownership of quality hospitality and tourism assets, as proposed by the Promoter, Manager and Trustee and Key Participants.
Furthermore, the option of a growing income, security and preservation of the purchasing power of precious capital. In addition, sharing in long term capital growth resulting from the increase in the value of such attractive assets provides a great motivational case to various investors.
About Author
